Xcel Brands, Inc. (NASDAQ: XELB) reported its financial results for the first quarter ending March 31, 2025. The company recorded a net loss of $2.8 million, reflecting a 56% improvement from the net loss of $6.3 million in the same quarter of the previous year. On a non-GAAP basis, the net loss was $1.4 million, marking a 24% improvement from the first quarter of 2024's non-GAAP net loss of $1.8 million. Adjusted EBITDA also showed improvement, reducing from negative $1.6 million in the prior year quarter to negative $0.7 million, a 56% improvement. Total revenue for the first quarter was $1.3 million, which represents a decrease of approximately 39% from the first quarter of 2024. This decrease was primarily due to a decline in net licensing revenue following the divestiture of the Lori Goldstein brand on June 30, 2024, although this was partially offset by increased licensing revenues from the company's other brands. Direct operating costs and expenses saw a reduction of approximately 42% from the previous year quarter, totaling $2.3 million for the current quarter. Xcel Brands has made significant strides in its operational cost efficiencies and brand growth. The company's social media following has expanded dramatically from 5 million to 45 million followers over the past five months, positioning it strongly for future business growth. The company aims to reach 100 million followers across its brand portfolio, which is expected to contribute to new business development. The company's balance sheet as of March 31, 2025, shows stockholders' equity of approximately $25.7 million and unrestricted cash and cash equivalents of about $0.3 million, with a working capital deficit of approximately $0.6 million. Long-term debt stood at $8.5 million.